AudUsd

The Aussie daily charts failure and close under the 100 Ema suggests that we have begun a bearish CD leg which ideally would target 0.9770. Further confirmation would be a close under the 200 Sma currently at 1.0400 then the up trend support line at 1.0250.

At this point only a break and close above the highs at 1.0855 would invalidate the pattern and re-establish the 1.1026 target in the near term.

Update - The pattern remains valid with further choppy trading expected. The 200 Sma looks key in resuming the decline.